Entrepreneur - JSS1 Business studies Lesson Note

Entrepreneurship: Entrepreneurship is the factor of production that involves organizing and combining the other factors of production to create goods and services. Entrepreneurs take on the risk of starting and managing businesses, making decisions about what to produce, how to produce it, and for whom to produce it. They innovate, identify opportunities, allocate resources efficiently, and bear the uncertainty and risk associated with business ventures. Entrepreneurship drives economic growth and development by fostering innovation, competition, and the creation of new products, services, and markets.